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Investico company, together with Synergy Comfort Hotels representing the Marriott International hotel chain, and with the support of the Armenian government, have announced the launch of a project that will be the first in its concept in Armenia. It is the construction project of the VILLAGIO club residential district, which will become the heart of the innovative Armenian valley of Smart Valley Armenia. The valley will be located between Yerevan and Etchmiadzin, the center of the Armenian Apostolic Church.
For the implementation of this Armenian innovative valley project, the founder of the SMART VALLEY ARMENIA project, Metso Igityan, and the governor of the Armavir Province of Armenia, Edvard Hovhannisyan, have signed a memorandum on strategic partnership.
And Vyacheslav Ghazaryan, the managing partner of Investico, signed an agreement with Synergy Comfort Hotels representing the Marriott International hotel chain to start the VILLAGIO project, which will be the first of four residential districts in the aforesaid valley.
According to Metso Igityan, SMART VALLEY ARMENIA is being created as a world-class innovation valley that brings together investors, projects, and experts in one ecosystem of the professional community to create and develop advanced technologies, and also creates comfortable working and living conditions that meet the highest international standards.
"Over the years, a team of experts and specialists from various countries studied the world's best practices in order to create an analogue of California's Silicon Valley in Armenia. Studying the world experience and gathering all the brave minds, we thought of ideas for creating creative spaces, developed urbanization standards, and chose a place with attractive views between Yerevan and Etchmiadzin, the seat of the Armenian Church.
It is important that the urban space is arranged as ergonomically and harmoniously as possible. Therefore, a development principle was chosen according to which low-rise buildings are built with a reasonable distribution density. All necessary buildings—housing, infrastructure, office and educational spaces, medical centers, recreation and entertainment facilities—shall be within walking distance. In fact, this is a different level and a different quality of life; more precisely, this is a different way of life," Metso Igityan said in his remarks.
In the first phase, the VILLAGIO club residential district will be constructed, which is the first of the four districts planned in SMART VALLEY ARMENIA.
Vyacheslav Ghazaryan, managing partner of Investico: “Villagio is a fundamentally new-level neighborhood for those who truly value quality, discreet luxury, ecology, and unity with nature. The construction of residential complexes will create new demands among consumers. This, in turn, will lead to the construction of complexes that meet international standards and will attract tourists, investors, as well as visitors to our country, who will be able to live and work in a more comfortable environment."
The VILLAGIO district will consist of a 4-5* category hotel complex of an international hotel chain, which will have 150 hotel rooms, 105 apartments, 33 townhouses and 14 villas, as well as a children's development center, a supermarket, a bakery, cafes, restaurants, a co-working space, a pharmacy, fitness club, spa, outdoor pools, tennis courts, sports fields, and a summer amphitheater.
"The VILLAGIO project was of great interest to us and Marriott; we decided to contribute to it. Villagio is particularly interesting because it includes not only a hotel complex, but also other types of commercial real estate such as townhouses, apartments, villas suitable for long-term stays. This will attract those who value comfort; and by purchasing premium real estate, they will also receive services from an international brand," Karina Galustyants, General Director of Synergy Comfort Hotels, representing the brands of the international company managing the Marriott International hotel chain, announced in her address.
The construction of the VILLAGIO club district is planned to be completed in 2025. And the total implementation timeframe for the Smart Valley Armenia innovative valley project—which includes office complexes, clusters, labs, the House of Arts, the National Institute of Science and Technology—is planned by 2028.
